888 reports “strong momentum” in second quarter

After an optimistic first quarter, 888 expects to continue growing.
After an optimistic first quarter, 888 expects to continue growing.

The online gaming company 888 has reported a 10 per cent increase in revenue for the second quarter.

UK.- 888 has announced that Q2 was slightly ahead of board expectations, with revenue up ten per cent year-on-year at $257m.

In a trading update, the company said it remains “well positioned to deliver further strategic progress during 2021 and beyond”.

CEO Itai Pazner said in a statement: “I am pleased to report that the strong momentum from the first quarter of 2021 continued into the second quarter, albeit with the year-on-year growth rate moderating in light of stronger comparables from the prior year.

Growth was driven primarily by regulated markets, where we believe ongoing market share gains continue to reflect our product-leadership strategy, highly effective data-driven marketing, and our excellent content“. 

He added: “We made significant strategic progress during the period in the attractive US market, where we announced a long-term strategic partnership with Sports Illustrated. We look forward to launching SI Sportsbook as a key pillar of our strategy to drive increased growth in the US.”

888’s B2C revenue in Q2 increased by 11 per cent in constant currencies to $247m, led by casino (+13 per cent) and sport (+94 per cent), with the latter in part due to the reduced number of sporting events in the prior-year period. 

Poker and bingo revenue was lower than the same period last year, having seen exceptionally strong performance in 2020 during Coid-19 lockdowns.

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